Almost 13 thousand applicants apply for 33% of the issue till the second day of Shivam Cement IPO; issue for locals progressing at slow pace

Shivam Cement Limited is issuing its 579,640 units IPO shares at Rs 200 per unit to the project-affected locals of Makawanpur district and 4,120,000 units IPO shares at Rs 300 per unit to the general public from today (6th Falgun, 2075).

The company is issuing 2% shares i.e. 8.80 lakh unit shares to the project affected locals and 10% i.e. 44 lakh unit shares to the general public. Out of the total issuance, 220,000 units had been separated for the Employees of associated organizations and another 220,000 units for Mutual Funds.

As per the issue managers, the issue collected applications from 12,985 applicants who applied for 1,376,660 units from the general category till today. Similarly, 74 application were received for 12,260 units from the locals of the project affected area. However, this is not the final data in case of issue for locals.

The application can be placed from the financial institutions providing C-ASBA facility or through Meroshare. Applications can be placed for minimum 50 units and maximum 44 lakh units for public issue and minimum 50 units and maximum 5.79 lakh units for the project affected locals.

ICRA Nepal had assigned Grade 3+ rating to the IPO of Shivam Cements Limited indicating Average Fundamentals.

Siddhartha Capital has been appointed as the issue manager for the IPO issuance. Whereas, NIBL Ace Capital Limited, Global IME Capital and CBIL Capital are the underwriters of this issue. 

After the IPO, the paid-up capital of the company will reach Rs 4.40 arba.